MAG Silver Corp.

MAG Silver Corp. is focused on advancing and exploring high grade district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the silver mining industry. Currently, we are developing the underground decline towards the high grade Valdecañas and Juanicipio silver veins in Zacatecas State, all within the joint venture between MAG Silver (44%) and Fresnillo PLC (56%). In addition, ongoing exploration continues within the Juanicipio joint venture, while the Company concurrently works on regaining surface access to our 100% owned Cinco de Mayo property in Chihuahua state.

Expert Comments:

Chris Thompson, Raymond James (7/11/16)
"MAG Silver Corp. is a MAGnum opportunity for the silver aficionado. . .We are resuming coverage of MAG Silver with an OP2 rating and C$22.50 target; we view the Juanicipio project as, without doubt, the best undeveloped silver asset globally. . .MAG offers investors multiple avenues to value accretion, unlocked by the current bullish sentiment surrounding precious metals (silver in particular), a near-term (2018/19E) production opportunity, and significant exploration upside. . .MAG is a clear stand out amongst our 27 primary silver assets under coverage."

Eric Zaunscherb, Canaccord Genuity (6/16/16)
"We initiate coverage of MAG Silver Corp. with a CA$20.50 target price and Speculative Buy rating. . .the story of Juanicipio’s discovery, David and Goliath struggles, a further discovery with imminent results, and ultimate development is operatic in scope. . .the company is managed by a strong technical and financial management team; this is reflected in a solid balance sheet and the lead project’s fully funded status. . .MAG Silver discovered one of the best undeveloped silver projects globally based on grade and scale. . .In the case of Juanicipio, Mother Nature has furnished a world-class geological score."

Joe Reagor, ROTH Capital Partners (5/23/16)
"We met with MAG Silver's CEO George Paspalas at the 2016 ROTH Precious Metals Conference in New York City. . .after meeting with management, we believe the market is pricing in a number of potential project growth opportunities as MVG has continued to de-risk the project. As a result, we are increasing our price target from $11 to $15, while maintaining our Buy rating. . .we believe MVG will continue to benefit from a rising silver price."

Heiko Ihle, Rodman & Renshaw (5/16/16)
"MAG Silver Corp. announced 1Q16 results; During the quarter, MAG closed a $74.8 million equity financing, which we believe provides the necessary capital to fully fund MAG’s 44% share of Juanicipio’s remaining capital costs. Notably, the capital raise allowed the firm to exit the quarter with $142.0 million in cash–enough to cover remaining capital costs in addition to an approximate $24.0 million safeguard should unexpected increases in capital costs arise during the final stages of construction."

"We like MAG Silver Corp. because it has very high-quality assets with a large number of silver ounces, high grade, in a good jurisdiction and has a solid management team with a proven track record. If a company has those things, then it's in position to turn it into a world-class producing asset. . .[Do you think MAG, being a silver company, will get an extra push in light of silver's appreciation?] I think MAG already has. The company did raise some money earlier this year, and it came out of that very strong. The valuation has moved significantly higher since before the raise was announced. I think that that's a demonstration of 1) the silver price outperformance of gold over the last month or two and 2) that the company is now in position to fund its share of its project, if it isn't acquired before the development decision is announced. Its larger partner, Fresnillo, has the power to make that development decision, which we expect sometime this year. But there is less risk for an investor now, which was part of the reason for its outperformance in the last few months." read more >

Heiko Ihle, Rodman & Renshaw (3/10/16)
"With closing the recent $74.7M capital raise, MAG Silver Corp. now has a strong balance sheet consisting of $147M and no debt—allowing for continued advancement of the Juanicipio Project. The capital raise serves as a significant derisking event for the firm; there should be no need to raise additional capital once a formal production decision is made. . .continued exploration success at the property could significantly improve the already impressive resource base at the project. . .the economics of Juanicipio could be greatly enhanced following the receipt of additional drilling results, making the already robust project even more attractive."

More Expert Comments

Experts Following This Company

Markus Bachmann, Fund Advisor – Craton Capital
Daniel Earle, Analyst – TD Securities
John Hathaway, Senior Managing Director – Tocqueville Asset Management L.P.
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Graeme Jennings – Cormark Securities
Andrew Kaip, Analyst – BMO Capital Markets
Philip Ker, Mining Analyst – PI Financial
Douglass Loud, Executive Director – Axiom Capital
David Morgan, Publisher – Silver Investor
Jeffrey Mosseri, President, Director – Greystone Asset Management, LLC., Axiom Capital
Shane Nagle, Analyst – National Bank Financial
Micheal Parkin – Desjardins Securities
Gwen Preston, Founder Resource Maven
Joe Reagor, Analyst – ROTH Capital Partners
David Sadowski, Analyst – Raymond James
Chris Thompson, Mining Analyst – Raymond James
Trevor Turnbull, Analyst – Scotia Capital
Eric Zaunscherb, Analyst – Canaccord Genuity

The information provided above is from analysts, newsletters, the company and other contributors.

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